A busy AEP has finally come to an end. Take a moment to celebrate your accomplishments and get focused on finishing strong. The last few weeks of 2024 are crucial for building momentum into 2025. Here’s a quick checklist to help you get started.
Close Out 2024
- Double-check enrollments to make sure everything has been processed correctly. This will ensure a smooth transition for your clients who enrolled in new plans for 2025. Make sure you are the Agent of Record on all applications.
- Track your commissions. Know how much you should receive based on new or replacement contracts and keep track of your payments. You work hard for your income – don’t let any commissions slip through the cracks.
- Update your CRM. Your CRM can help you manage your business, but it’s only as good as the information it contains. Update client details with any new information, including plans, carriers, and effective dates. Note each client’s preferred method of contact – this will give you better results from any outreach you do. Use scheduling software for reminders to maintain ongoing contact with clients.
- Organize your physical office space. This will create a sense of well-being by decreasing your stress levels and increasing productivity, providing a fresh start for the new year.
Prepare for Tax Season
Gather all your paperwork and records now, including receipts for anything that may qualify for a tax deduction. This includes:
- Office rent or home office space
- Office supplies and utilities, such as your phone and internet bills
- Marketing and advertising services
- Fees for continuing education, licensing, and training
- Travel costs, including mileage and parking costs
- Software, including your CRM tool, scheduling system, and website maintenance expenses
Set Goals for 2025
Before you set your goals for 2025, reflect on 2024 to analyze what went well and what you could improve upon. Ask yourself the following questions to help identify what (if any) changes you need to make for next year:
- Did you meet your goals for new prospects and client retention? Were your goals realistic?
- What was your best source of leads and referrals?
- Was your marketing and advertising fruitful and cost-effective?
- Were you able to offer plans that met your clients’ needs?
It’s important to set goals that are specific and measurable. You should also allow for some flexibility, meaning you may need to adjust some goals if circumstances change during the year.
Prepare Sales Strategies for 2025
The time you invest now in strategies for 2025 may make all the difference to your success.
- Prepare for your first quarter outreach to clients, especially to those who enrolled in new plans for 2025. Touch base to determine if they are happy with their plans and assess the next steps if they express concerns. Since customer satisfaction is the key to retention, it’s important to let your clients know you are there to assist them year-round.
- Look for cross-selling opportunities. You met with a lot of people during AEP. Through your needs assessments, you may have uncovered some gaps in coverage that put your clients at risk. Cross-selling creates year-round revenue opportunities and increases client retention.
- Look for new carriers or products to enhance your portfolio and broaden your client base.
- Learn how to use a new technology to become more efficient.
- Continue to network in your community. Attend community events and join organizations where you’ll build relationships and create name awareness. Keep your social media profiles current with relevant information. Ensure you are easy to reach and interact with.
The Western Asset Protection team is committed to helping you meet your career goals. Contact us today.